Freddie Mac Announces Automation of Key Underwriting Criteria
Industry Update
May 26, 2022
Source: Freddie Mac
Freddie Mac has unveiled new automated underwriting capabilities that allow lenders to verify assets, income and employment using borrower-approved bank account data. On June 1, 2022, this functionality will be available to mortgage lenders nationwide through the asset and income modeler (AIM) in Freddie Mac Loan Product Advisor® (LPASM), the company’s automated underwriting system.
“This industry-first innovation supports our mission of making sustainable homeownership more affordable and accessible,” said Andy Higginbotham, Freddie Mac Single-Family Chief Operating Officer. “Our AIM suite of services will be instrumental in bringing greater accuracy and efficiency to the underwriting process, which will be critical as the mortgage landscape continues to shift toward greater purchase market activity.”
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